Westwood Global Investments LLC recently announced the acquisition of new stake in Ambev S.A. ADR (NYSE:ABEV). The institutional investor has increased its shareholding in the Consumer Defensive company by 3.11% to 107.18 million shares with purchase of 3.23 million shares. This fresh investment now brings its stake to 0.68% valued currently at $293.68 million. In addition, Goldman Sachs International raised its holdings by 49.87 million to 64.17 million shares. And Ruffer LLP has lifted its position by 1.98% or 0.89 million shares – to 45.82 million shares.
With over 6.37 million Ambev S.A. ADR (ABEV) shares trading Tuesday and a closing price of $2.76 on the day, the dollar volume was approximately $17.57 million. The shares have shown a negative half year performance of -8.48% and its price on 01/02/24 lost nearly -1.43%. Currently, there are 15.74B common shares owned by the public and among those 15.74B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for ABEV have a consensus price objective of $16.51. The analysts have set the share’s price value over the next 12 months at a high of $18.70 and a low of $14.00. The average price target is 20.0% above its recent price level and an upside to the estimated low will see the stock gain 80.29% over that period. But an upside of 85.24% will see the stock hit the forecast high price target while median target price for the stock is $16.25.
The top 3 mutual fund holders in Ambev S.A. ADR are First Eagle Global Fund, First Eagle Overseas Fund, and Harding Loevner International Equ. First Eagle Global Fund owns 149.62 million shares of the company’s stock, all valued at over $409.96 million. Harding Loevner International Equ sold -4.1 million shares to bring its total holdings to over 59.24 million shares at a value of $162.32 million. Harding Loevner International Equ now owns shares totaling to 0.38% of the shares outstanding.
Shares of Ambev S.A. ADR (NYSE: ABEV) opened at $2.78, down -$0.02 from a prior closing price of $2.80. However, the script later moved the day high at 2.8000, down -1.43%. The company’s stock has a 5-day price change of -1.78% and 14.14% over the past three months. ABEV shares are trading -1.43% year to date (YTD), with the 12-month market performance up to 5.84% higher. It has a 12-month low price of $2.28 and touched a high of $3.06 over the same period. ABEV has an average intraday trading volume of 10.74 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.00%, 5.48%, and 2.47% respectively.
Institutional ownership of Ambev S.A. ADR (NYSE: ABEV) shares accounts for 8.70% of the company’s 15.74B shares outstanding. Mutual fund holders own 4.02%, while other institutional holders and individual stakeholders account for 4.68% and — respectively.
It has a market capitalization of $43.45B and a beta (3y monthly) value of 1.18. The stock’s trailing 12-month PE ratio is 14.75, while the earnings-per-share (ttm) stands at $0.19. The company has a PEG of 3.07 and a Quick Ratio of 0.79 with the debt-to-equity ratio at 0.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.14% over the week and 1.71% over the month.
Analysts forecast that Ambev S.A. ADR (ABEV) will achieve an EPS of $0.06 for the current quarter, $0.04 for the next quarter and $0.19 for 2024. The lowest estimate earnings-per-share for the quarter is $0.05 while analysts give the company a high EPS estimate of $0.07. Comparatively, EPS for the current quarter was $0.06 a year ago. Earnings per share for the fiscal year are expected to increase by 4.93%, and 4.75% over the next financial year. EPS should grow at an annualized rate of 4.80% over the next five years, compared to 3.85% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate Ambev S.A. ADR (ABEV) as a “Moderate Buy” at a consensus score of 2.06. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 6 of the 18 advise that investors “hold,” and 1 rated it as a “Sell.”
